• WAGE REVISION TALKS WITH IBA & NEGATIVE ATTITUDE OF IBA-GOVERNMENT• UFBU REJECTS IBA’s INITIAL OFFER OF 2% HIKE IN WAGE BILL• DECIDES TO RESORT TO AGITION AND STRIKE ACTIONS• HOLD MASSIVE DEMONSTRATIONS ALL OVER THE COUNTRY ON 8th/9th MAY• GET READY FOR 48 HOURS CONTINUOUS STRIKE BY END OF MAY, 2018

“The much delayed negotiations with IBA on our Charter of Demands for wage revision re-commenced on 5th May, 2018 after a gap of nearly six months.

Medical Insurance Scheme: The IBA insisted that representatives of UFBU should be part of the Committee to appoint the broker/service provider for administration of the Medical Insurance Scheme. We flatly refused to be part of that Committee since appointment of the Broker is not part of our Settlement and Unions are not to be involved in the same. However, we informed IBA that UFBU will be willing to discuss the problems faced by employees, officers and retirees to ensure that the scheme is implemented without any hassle. It has been decided to discuss the issue further.

Wage increase: We insisted that in view of the inordinate delay since the last meeting, the IBA should come out with their initial offer so that further negotiations can take place and finality reached expeditiously. We pointed out that Government/Finance Ministry have been repeatedly advising all Banks and IBA to expedite the wage revision process but the matter is being delayed. IBA stated that the Banks are facing increasing stress on profitability and the position of the Banks are not that good and this should be kept in mind while discussing the demands for wage revision. We stated that all the Banks are earning Operating Profits and it is only because of huge apportionment towards provisions for bad loans that Banks’ profitability is getting eroded and this in no way can be attributed to the employees and officers working in the Banks. Hence we demanded that there should be adequate and satisfactory wage revision.

However, IBA informed that looking to the present position of the Banks, there are constraints on their part and hence made their initial offer of 2% hike over the total Wage Bill as on 31-3-2017.

We informed the IBA that in the 10th Bipartite settlement, there was increase of 15% hike in wage bill and hence this offer of IBA is highly disappointing and totally unacceptable even as an initial offer.

We demanded that IBA should improve their initial offer so that the matter can be further negotiated to reach a mutually acceptable settlement with satisfactory and adequate wage increase.

IBA regretted their inability to improve their initial offer and hence UFBU outrightly rejected their offer and informed them that UFBU would be compelled to resort to agitational progrmames to press our reasonable demands.

UFBU Meeting: Thereafter, meeting of the UFBU was held and it was decided that the very meager offer of IBA should be brought to the attention of the Finance Ministry for their intervention and at the same time UFBU should commence agitational programmes.

Programme: 8th or 9 th May, 2018

Massive demonstrations all over the country before bank branches either during lunch time or after office hours. In bigger towns and cities, centralised demonstrations should be held.

By end of May, 2018, 2 Days/48 hours continuous Strike action preceded by other agitational programmes. (Dates of the strike will be informed next week after waiting for the response of the Government)

Comrades, we have been exercising utmost patience in pursuing our demands but perhaps IBA and Government have taken it as our weakness. It is time to show our unity and united resentment against the unreasonable approach of the IBA and the casual attitude of the Government in resolving our genuine demands for wage revision. Forge total unity, make the protest demonstrations massive in all places and await our call for strike action.”